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Eaton Stock Hits New 52-Week High (ETN)

Eaton Corporation (NYSE:ETN) hit a new 52-week high Wednesday as it is currently trading at $61.79, above its previous 52-week high of $61.71 with 1.9 million shares traded as of 2:46 p.m. ET. Average volume has been 3.5 million shares over the past 30 days.

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK ( TheStreet) -- Eaton Corporation (NYSE: ETN) hit a new 52-week high Wednesday as it is currently trading at $61.79, above its previous 52-week high of $61.71 with 1.9 million shares traded as of 2:46 p.m. ET. Average volume has been 3.5 million shares over the past 30 days.

Eaton has a market cap of $27.58 billion and is part of the industrial goods sector and industrial industry. Shares are up 9.4% year to date as of the close of trading on Tuesday.

Eaton Corporation operates as a diversified power management company worldwide. The company has a P/E ratio of 15, below the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Eaton as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Eaton Ratings Report.

With Baker Hughes, General Electric is stuck between a rock and a hard place. The company may miss out by shopping its majority stake when compared to selling off pieces of the business, but the most attractive assets are also the most valuable at this point in the cycle.